Tax Credits for Houston Affordable Housing

HOUSTON (Houston Business Journal) – Ten developers that are constructing or rehabilitating affordable apartments in the Houston area are set to collectively receive $14.6 million in incentives from the Texas Department of Housing and Community Affairs.

The developers will receive tax credits in exchange for charging lower rental rates on a portion of a property’s units so they are affordable for low-income individuals and families.

The following developments are the local recipients of this year’s tax credit program:

Cypress Creek at Fayridge ($2 million for 148 affordable units)

Cypress Gardens ($1.4 million for 100 affordable units for seniors)

Golden Bamboo Village III ($1.6 million for 130 affordable units for seniors)